All Forum Posts by: Tim Hendricks

Forgot to mention...this property is already under contract since yesterday.  So.....someone thinks it's a good deal.

@Jaysen Medhurst

Great points.  I screwed up and noted the taxes monthly instead of annually.  The listing noted that the baseboard heat is electric, but hot water heater, not sure and never considered common lights like the hallway or outside.  I have never owned a multi before but covering utilities makes me cringe.  If someone is not paying for it, they would tend to be excessive with it.

The $10k I was thinking of getting the exterior and interior professionally painted and then some for minor carpentry type repairs inside.  

I have not walked the property; this was just a quick down and dirty analysis.  I will go back and correct for the taxes and add some for utilities and the management.  

Results: Wow, the update on the taxes, utilities and management fees just blew the income out of the water ($133 cash flow; 2.33% ROI). I even increased 3 of 4 unit's rents slightly. I'm not sure how anyone can make any money on these!!!

Thanks for taking time for the feedback.

View report

4-plex in, what appears to be, nice shape.  Fairly new to the market. Exterior could use a professional paint job, but rental history looks solid and so does the cash on cash return. What am I missing?  

*This link comes directly from our calculators, based on information input by the member who posted.